by ABIP | Sep 7, 2020 | News, Newsletter
The Home Office Deduction With more people working from home than ever before, taxpayers may be wondering if they can claim a home office deduction when they file their 2020 tax return next year. The short answer is that self-employed taxpayers who use their home for...
by ABIP | Sep 5, 2020 | News, Newsletter
Tax Considerations When Hiring Household Help If you employ someone to work for you around your house, it is important to consider the tax implications of this type of arrangement. While many people disregard the need to pay taxes on household employees, they do so at...
by ABIP | Sep 4, 2020 | News, Newsletter
It’s Never Too Early to Check Tax Withholding While it probably seem like tax season just ended, it is never too early to do a “Paycheck Checkup” to make sure the right amount of tax is withheld from earnings – and avoid a tax surprise next...
by ABIP | Sep 3, 2020 | COVID-19, News
Employee Payroll Tax Deferral Guidance On August 8, 2020, President Trump signed an executive order allowing employers to defer the withholding and payment of the employee share of Social Security taxes from September 1 through December 31, 2020. As the executive...
by ABIP | Aug 28, 2020 | COVID-19, News, Past, Webinars
Using Specialty Tax Incentives to Create Cash Is there cash already waiting for you to take advantage of? In this session, Lindsay Duke, a Senior Manager with deep expertise in specialty taxes, will walk you through how to look at tax incentives and credits to...
by ABIP | Aug 3, 2020 | News, Newsletter
Compiled and issued annually every year by the IRS, this year it includes many aggressive and evolving schemes related to coronavirus tax relief, including Economic Impact Payments. The criminals behind these bogus schemes view everyone as potentially easy prey and...
by ABIP | Aug 2, 2020 | News, Newsletter
While many schools are switching to hybrid or remote learning models, teachers and other educators should remember that they can still deduct certain unreimbursed expenses such as classroom supplies, training, and travel. Deducting these expenses helps reduce the...
by ABIP | Aug 1, 2020 | News, Newsletter
Natural disasters such as hurricanes are more common in summer, but tornadoes, floods, and fires can strike at any time. As such, it’s always a good idea to plan for what to do in case of a disaster. Here are some simple steps you can take right now to prepare:...
by ABIP | Jul 31, 2020 | News, Newsletter
If you discover a mistake on your tax return after you’ve already filed, don’t panic. In most cases, all you have to do is file an amended tax return. Here’s what you need to know: Taxpayers should use Form 1040X, Amended U.S. Individual Income Tax...
by ABIP | Jul 13, 2020 | News
We are pleased to announce that ABIP has ranked as a top-20 largest accounting firm in the Houston and San Antonio Business Journals Book of Lists. The annual rankings are formulated based on the number of CPAs and accounting staff in each firm. Recently, the firm has...
